Banking Sector

Dáil Éireann Debate, Wednesday - 6 May 2015

Wednesday, 6 May 2015

Ceisteanna (145)

Paul Murphy

Ceist:

145. Deputy Paul Murphy asked the Minister for Finance if the decision in budget 2014 to grant banks the ability to fully offset losses against all profits each year against corporation tax has been approved by the European Commission; and if he will make a statement on the matter. [17587/15]

Freagraí scríofa

Minister for Finance

I can confirm for the Deputy that the decision to remove Section 396c of the NAMA Act 2009 did not require the approval of the European Commission. Removal of the provision served to place the Covered Banks back in the same position as other Irish corporates.